Due to the Chinese National Holiday as well as regional celebrations or days of observance, sources tell SteelOrbis the Taiwanese scrap market remained largely inactive the week ended October 6. Buyers and sellers preferred to take a wait-and-see perspective due to the uncertain outlook for import prices.
The few inquiries attracted limited ex-US offers of around $285-290/mt CFR on containerized HMS I/II 80:20 and “any small deals kept deal prices stable at $280-285/mt CFR.” A source stated, “US scrap exporters believe that the market has bottomed out and are going to try to remain firm. Any Chinese supply cut claims upon their return will support the perspective and could trend prices at least stable through the end of the year.”